The sun. [volume] (New York [N.Y.]) 1833-1916, 1887-10-16
WHAT MIR. DEPEW DID SAY.
NO SPECTRE or PANIC SfIN6LEs WITH
MS pISION&

That Way-stnkinG tho hariem IrncHe
President Chauncey M. Depew Of the New
York Central Railroad got homo from his
Western trip and annual inspection OF the van
derbilt system OF railroads yesterday after
noon. His special train, consisting OF an en-
CINE. baggage car. and Mr.. Depews private
car, rolled into the Grand Central station at
12H o'clock. On board the train, besides Mr.
Depew, were II. Walter Webb, Vice-President
81 the Wagner Company; George r. Fearing.
Mr.. LANCE, President OF the Doe Limo Trans
portation Company, and Mr.. De koven OF
Chicago, one Of tho directors OF the Lake Shore.
Mr.. Cornelius Vanderbilt left the party at AL
bany and went to Newport.
Mr.. Depew alighted from the train and went
Immediately to his private ofhce In the sta
ton. There he read hastily two or three bushels
of letters addressed to him, which hid accumu-
lated while he was away. The reporters were
on hand, hut tho object Of their attentions ex-
cused himself. saying that he was going home
10 sec his vito and babies before he talked to
anybody. SUN reporter found Mr.. Depew at
his house later. Mr.. Depew looked the per-
sonlAcation OF health and good humor. OF
pourse the first question the reporter asked
him was about the famous st. Louis interview.
IT have had good deal to do with you boys
In the last twenty years." said Mr.. Depew.
"aud this is the first time ever was caught.
However, am convinced that the reporter who
wrote that interview is o perfectly honest fell
low and meant me no harm. He talked with me
Tor not moro than ten minutes In the st. Louis
dsp9 had sery tts op me 10 with whom
had an important business engagement. !
found that the reporter haa h,m IS co 1ery
try, and in what he wrote about ,, what said:
which learn he wrote very hastily, ne seems
hayi pWsss he hs Tor
second days article and took time for It, no
came nearer to what said; .,,.. r,or. "a =.
th sm new towns 81 the West sone q il. It
ever Is local in its operation and attracts no
foreign capital to speak Of Is eoan Tb. to
business prosperity Of the country at large.
building so Vest 81 Chicago Of the kind which IS
called there building into new territory, but
6sh ss Mh he kefe sssys
such road commits a crime, He dom9rali e
roads are. and he assaults the securities Of tho
existing line; Such enterprises bring their .nr
WRo nSt ey IN
lose 1t. But as in the case Of the land specu:
{ation. do not believe that there is enough Of
whole country. Both of these evils seem to be
local in their character. and the loss in conse-
Do has ssan What on
trip could predict business panic. Why. the
business and growth OF the West are simply
preolate it. Duluth five years ago had popu-
1ation of 1850 people; now she has 10000
as the Ts Mss S shs
Is s $4,000 900. fhs city has reeently pat up
grain sey1'ors With .sa1 large not easafty
for the business. One OF the officers OF the
southwestern road told me that l. the New
Lake Lake superior he Would saarante. us ireisht.
age Of 100000 barrels OF flour tho next year.
and AL shs y has in the
people In the city. and now there arc 100 900,
lower Broadway: Then there is Sioux City In
the richest valley in the Wss
ia as has f Ths people there Tessntly devised
~ very original scheme to exhibit, TO the world
Ssy bu 1t The aaes to as
ments are all built 81 corn In the ear and corn
feet square. Lattice work of Moorish archi-
o %heh are Se s s5hbsd rrh the s gnas sa%s
CITY, but OF the counties OF Iowa and Nebras-
ka which are tributary to it. They have rep
Then the ladies. have worked, mot oes in
saans IT prssensd most ani
original picture Of the enormous wealth Of that
region and Of the tremendous crops that it
could saSa Sioux sV Ely VAS the only place
ct which ! made q speech. had to there;
and o Of many others ike them is sound and
honest. But, OF course, In all such towns there
are men who too rashly anticipate the growth
way from. Sioux City, for instance, with the
idea that in o year he is going to sell his farm
than year. But he. and no one else. viii lose
by .f,a ,es,,t o, tb,. vonser,u, growth and
West never did better business than they are
s6 G aSons the financial eondion Of other
roads than our own. But never since 1t was
peon and o defss and 0s al that
tod me this morning when he . left me at
trips which he had made over our roads had
the road bed and the rSIing stock
Of the difiersnt fines. ali OF whom went
their notR s T VI gS s to o th hit
New York Central il the trunk line over which
The sssns stey
It's hsys s eS ana
freight cars extra for the lake traffic alone. and
II We had three times as many We could fill
them all at good rates.
1.-THE effect Of the Interstate Commerce
law, by preventing the rebates, secret rates,
and preferences which weak lines resort to for
tho purpose OF diverting traffic, and which old
lines resort, to to get traffic; has greatly
strengthened those established lines which
have equipments and terminal facilities for
doing business properly.
III there is any financial trouble coming to
tho country. 1t has got to come from some other
source than the railroads. Parallel roads in the
West cant hurt the old lines for this reason:
Take the Northwestern, the st. Paul, the Chi
cago. Burlington and Quincy. the Missouri Pa
spread out In stems like the fingers OF a hand.
Now. suppose a railroad 'pronioter'-a man
who has no idea OF doing anything except SELL
Ing his bonds, being his own construction COM
pany, pocketing four or 1--WE millions OF profits
and leaving the bondholders and stoekhplders
TO walk Off with the property-snppose he de-
cldes to parallel one Of these stems. his enter
, prise win fail without affecting the dividends
OF the original system, because the surplus
earnings OF that system over and above the
dividends will enable the stem to meet the
losses incurred by tho competition. the pro-
motor doing business. as he always does, at
loss,
In the Waat thia wear has baan very oytensiye.